
Hanover Co. Closes $125M Fund to Transform Distressed Properties into Multifamily, Industrial Assets
Hanover Company has closed its Hanover Opportunities Fund (HOF) with $125 million in capital commitments, targeting the acquisition and redevelopment of underutilized commercial assets into multifamily and industrial projects across the U.S.
The fund focuses on early-stage opportunities, including vacant buildings and distressed office properties. It has already secured an industrial site in York, Pennsylvania, and two multifamily development parcels in San Jose, California.
HOF’s strategy emphasizes quick-close, all-cash deals—even without existing entitlements—allowing Hanover to offer liquidity to sellers facing market constraints. The fund is actively sourcing deals in key regions, including the Sun Belt, West Coast, Northeast, and Mid-Atlantic.
Led by CEO Brandt Bowden and Managing Director Drew Willson, Hanover is positioning HOF to meet the rising demand for pre-development risk capital in a real estate landscape shaped by shifting demographics and tightened financing conditions.
